Single tenant net lease properties continue to offer 1031 exchange buyers excellent security and a good returns on their real estate investments.
(PRWEB) October 16, 2014
The Royston Group has completed the sale of a single tenant net lease gas station in the Houston MSA. The 2,813 square foot building, located in Houston, Texas, sold for $2.55 million. The property sits on 31,000 square feet of land and is centrally located near the Interstate 45 freeway . The site was leased on an absolute triple net basis to CST Brands Inc. operating as a Valero Gas Station. The initial lease term was 20 years with rent escalations every 5 years.
The Royston Group's Rob Sutton and Greg Cortese represented the seller in the transaction. The buyer purchased the property as part of a 1031 exchange. Investment highlights included a long term NNN lease with rent increases, an excellent retail location and an experienced high credit tenant in CST Brands.
“Good real estate in a major MSA along with a solid NNN lease to a great tenant will always garner attention from 1031 buyers. Single tenant net lease properties continue to offer 1031 exchange buyers excellent security and a good returns on their real estate investments.” Said Vice President Rob Sutton.
Greg Cortese, President of The Royston Group and Rob Sutton, Vice President specialize in the sale of single tenant net lease properties. The Royston Group is a privately held commercial real estate investment firm, founded in 1992. The company provides services for a multitude of net lease commercial property types including office, industrial, retail and medical. The firm has completed over $1.5 billion in real estate sales since its inception. http://www.theroystongroup.com